Current internet rumors are forecasting that Take Two, the publicly traded parent company of Rockstar Games, may succumb to a buyout offer from media giant Viacom.

Viacom is best known for its MTV, Nickelodeon and Paramount brands and is known to be actively seeking to expand within the video games industry. In 2005 it acquired and subsequently improved video website GameTrailers.com.

According to MCV, the company has received an offer from Viacom of $1.5 billion, a significant premium on its current value. The company's sale is entirely dependent on its shareholders, the pool of which is currently comprised of a very diverse group. MCV also claims that the biggest holders would be keen to sell if an attractive offer arose.

While this news is unlikely to impact Grand Theft Auto IV, any potential deal may see the series being more closely linked to Viacom's other brands through in game advertising and the series receiving a significant boost in media publicity time.

"Yesterday, the Internet was abuzz with rumors that Viacom was attempting to buy Take-Two. This is not true, according to a report by Reuters.

News of the rumors spiked shares of Take-Two 12 percent on Thursday. But it was just wishful thinking. Reuters sites an unnamed source "familiar with the matter" who says there has been no offer.

Viacom, the media giant that owns MTV, recently purchased Harmonix. That led to speculation that Viacom was making a serious play for the videogame industry. However, when IGN spoke with Paul DeGooyer, Senior Vice President of MTV Games in January, the acquisition of Harmonix sounded more like a play to expand music interactivity, rather than to dominate the games industry."